BearingPoint's Auditor
Sees Faulty Accounting

Consulting firm BearingPoint Inc. said its auditor has identified "material weaknesses" in the company's internal accounting systems, in what could be a sign that last year's Sarbanes-Oxley Act is prompting heightened scrutiny by accountants.

BearingPoint, spun off from large accounting firm KPMG LLP in 2000, disclosed in its annual report that its outside auditor found shortcomings involving its policies for booking revenue...